The stock market is soaring, but for the most part streets, stores and restaurants are looking very empty. I talk to a lot of people. They are worried. I am worried. I’m guessing you are worried. There are a lot of questions and not many answers. The unemployment rate is off the charts but many who are sitting home are making more money not working. Pending real estate sales in the Northern Palm Beaches are down 30% from year ago levels but the best listings are selling like hot cakes. Interest rates are about as low as we have ever seen them and the massive debt being created in Washington is mind boggling. I feel like I am missing something, but I am not sure what it is.
So, we will move forward, keep providing detailed information about the local real estate scene and watch closely to see what happens. Paradise Sharks is going to keep you informed.
Median condo prices in, and around, Jupiter were down as of May 15th for the first time since December. The drop wasn’t big. Last month the median condo price was $255,000. This month it is $250,000. Condo sales over the past month have been dreadful. They were down 55% from last month’s sales volume. They were down 51% from the same period last year. It is the slowest month for Northern Palm Beaches condo sales since I have been keeping records and I have been keeping records a long, long time.
Again, I feel like I am missing something. The stores are empty but the stock marketing is climbing. I am being cautious. I feel like there is a surprise around the corner waiting to jump out and scare us. I don’t know what it is. It may never jump out, but I am watching. For now, Jupiter condo prices are looking very strong when looking at the number of sales. Lots of people still fleeing states in deep financial trouble. They are coming to Florida. Inventory still stinks and lots of people whose income has been unaffected by this pandemic. Interest rates are at all time lows. Maybe that surprise isn’t out there but we are watching so stay tuned.
One thing that has not changed is Paradise Sharks passion to bring you the highest quality real estate services at the lowest possible price. There aren’t many homes we cannot list for 4% and in many cases we can save you even more money. Almost all of our buyer clients get credits at closing as our way of saying thank you. We don’t pay franchise fees. We don’t give a broker a cut of our earnings. We are a small local business doing our best for our clients and we would like to invite you to be one. The invitation is always there and to open it just let us know how we can help by reaching us at firstname.lastname@example.org or 561.308.0175.